Type A Fund has funded small business assistance projects.
The internship programs at both Texas A&M University Corpus Christi (TAMU-CC) and at Del Mar College (DMC) are helping 211 companies at DMC and 212 small businesses at TAMU-CC.
It has funded small business assistance at Del Mar College through FasTrac © Program, Procurement Technical Assistance Program, and small business assistance from Service Corps of Retired Executives (SCORE) and LiftFund, through their small business loan buy-down program.
LiftFund has loaned 399 small businesses more than $7.1 million. LiftFund uses its own funds for loans but uses Type A funds to buy down the interest rate from 12% down to 5.5%.
These programs resulted in the creation of 901 new jobs. They also doubled the number of qualified workers in our area. The assistance to small businesses is not easily measured in the number of jobs but in the small businesses growing or even just staying in business.